Mankind Pharma eyes top slot in industry by 2016
At the sidelines of the IDMA event, chairman of Mankind Pharma, Ramesh Juneja, told CNBC-TV18?s Archana Shukla that they aim to enter the league of top five in the pharma space in the next three years and reach the top slot by 2016. Is this an ambitious or realistic vision? Going by its history, it could be realistic to some extent. Mankind Pharma is a closely held company that has almost doubled revenues every two years for six straight years to Rs 2,000 crores. They have followed the lowest drug pricing policy; their strategy has been to keep their prices low to push sales numbers and volumes in the Indian market. However, in a competitive market like the pharmaceutical space where a lot multinational companies come in, this aim could be ambitious. Going forward, Juneja tells CNBC-TV18 that they plan to add another 1000 people to their workforce within two years. They currently have a field force of 6000 people. He further said that they intend to launch about 35 products every year for the next 2-3 years and are eyeing a growth of about 40-45% in the Indian market.
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